Michigan SB0109 modifies the state's disaster and contingency fund, creating a new hazard mitigation fund and setting rules for fund distribution and.

Michigan SB0109 amends the state's disaster and emergency contingency fund, establishing a new state hazard mitigation fund. The bill sets rules for the distribution and use of funds, including the transfer of 20% of unexpended funds from the disaster and emergency contingency fund to the hazard mitigation fund, provided the contingency fund balance remains at least $10 million. The state treasurer manages the investment of the hazard mitigation fund.

Michigan SB0109 modifies the state's disaster and contingency fund, creating a new hazard mitigation fund and setting rules for fund distribution and.

Michigan SB0109 amends the state's disaster and emergency contingency fund, establishing a new state hazard mitigation fund. The bill sets rules for the distribution and use of funds, including the transfer of 20% of unexpended funds from the disaster and emergency contingency fund to the hazard mitigation fund, provided the contingency fund balance remains at least $10 million. The state treasurer manages the investment of the hazard mitigation fund.